Electronic Money and Virtual Currencies (34/42)

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Key Idea 1: Bitcoin Address

Bitcoin Address: Hash of a Bitcoin Owner's Private Key

Bitcoin Owner Identified Only by an Address

Difficult to Identify the Owner from an Address → Anonymity
Able to Create Many Addresses of the Same Bitcoin Owner
Addresses of Payer and Payee Recorded in a Transaction

Bitcoin Network: Distributed Storage of a Ledger
→ Transactions are Processed by & Stored in a Peer-to-Peer (P2P) Network

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